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|Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by noetic5: 5:15am On Jun 19, 2016|
Few days ago, I stumbled upon a thread on Nairaland, about the Naira payment option on Facebook. Well, it is a great feature, especially by advertisers, but here is my personal experience of paying in naira, and why you should choose the dollar currency against the naira for payment, at least, for now. read below
Few weeks ago, Facebook rolled out new payment currency method for Nigeria advertisers. Naira currency was enabled as one of the payment currencies on Facebook Ads. It is a great improvement, not only to Facebook, but also to Facebook advertisers. This is because, advertisers will pay less than what they were paying in USD.
I was one of a few who was extremely happy about this new development, because I use Facebook, to drive great traffic to my blog. Luckily for me, the period I wanted to start up a new ads campaign, was the same period the Naira payment option was enabled.
However, I advice that advertisers should continue paying in Dollars, at least for now, and I will tell why with reasons.
After I realized that the Naira payment option was enabled for Nigerians, I quickly setup three new Facebook Ads Manager and set all their currencies to Naira. Little did I know that I was only delimiting my ads manager. After the setup, I started with the first ads manager, setup my campaign for the month and I budgeted to spend 25 USD per day. which translates to approximately N5000, on the Naira payment option, using the exchange rate of 199/$.
However, if I had set my currency to be the dollars, i will be charged at 340/$ for the 25 USD which am meant to spend each day for my ads. That is about N8,500. You see the difference? N5000 and N8500.
My campaign was up and running and when I got to my payment threshold of $25 or N5000 (because am using the Naira payment option), I was due for billing, and Facebook tried to charge me, put the payment didn't go through. I tried several times to pay, but still it didn't go through. I decided to chill for that day and wait for the next day. See image below
The next day, I decided to try, and it also failed, so I switched credit card immediately. I was using my Union bank's MasterCard, so i decided to use my GTB MasterCard, after putting my card's details, I tried one more time, it failed, and immediatelt, GTB sent me this heartbreaking mail saying;
Dear Valued Customer,
Declined Card Transaction: DCC Restriction
Thank you for using your GTBank Naira MasterCard.
Please be informed that your transaction with the details below could not be completed because you have selected the DCC payment option (Dynamic Currency Conversion) that allows you to pay in Naira, which has been temporarily restricted on all our cards. Please reattempt the transaction and select the currency of the country you are transacting in.
See image below (1st image)
From the below image (1st image). you will see that GTB converted the N5000 with 340/$ exchange rate which now translates to 15.44 USD, but am meant to pay 25 USD. In other words, you cannot pay in Naira with the conversion rate of 199/$ for an international transaction.
In addition, as I tried further on my Union's card, my bank now mailed me saying
Kindly be advised to select the currency of the country in which the web transaction is being performed and not naira to enable you complete your transaction.
See image below (2nd image)
Well for now, we cannot pay in Naira for Facebook ads, but I hope that it will not be for long. I do not know if any other bank where Dynamic Currency Conversion is enabled, if you know of any, you can drop the bank's name in the comment box below.
I was very sad because I was having a good conversion from my campaign, but i could not continue because because Facebook paused my ads, so I had to open a new ads account and started all over again, this time, I set my currency to dollars.
N/B: If you create an ads account, using a particular currency, you cannot switch to other currencies therefore, if you want to use a different currency, you have to create a new ads account. That is how Facebook for Business made it to work.
lalasticlala ishilove ijebabe
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by noetic5: 5:15am On Jun 19, 2016|
i hope these things are fixed
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by HarkymTheOracle(m): 6:09am On Jun 19, 2016|
how i got a job today
Manager "It says in your CV that you are quick at mathematics.
Me: Yes sir
Manager: What is 17 X 19?"
Manager: "That's not even close"
Me: "But it was quick"
listen to my songs at http://my.notjustok.com/p/oracle/
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by jayewalex: 12:30pm On Jun 26, 2016|
Thank you for this information. i just heard the same issues now. And i don't know how to make the payment even if i want to switch back to dollar. The issues is they will charge the card before commencing to the other payments.
This is deep poo.
My thoughts. if it didnt work. i will close the fb acct and make new person as an admin on my page then i will be using the payment option there. i pray it works. I really want to go on legit with Facebook/.
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by noetic5: 11:40am On Jun 28, 2016|
just open a new ads account and select USD as payment currency. Forget that Naira sh*t, I doesn't work! I wonder why this thread is not on FP so that webmasters will know
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by ajaabi(m): 1:13pm On Sep 27, 2016|
Hi guys, did you use same naira MasterCards for the dollar campaign?
Or a dollar card funded with dollars through Dom account?
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by Bigajeff(m): 1:38pm On Sep 27, 2016|
It happens not just with Facebook payment including PayPal connected to MasterCard. Until I call I sent msg to PayPal and receive call from the customer care that put me through some setting. I opted out of PayPal buyer protection and set it up such that conversion rate should be determine by the bank. My PayPal payment is now smooth with dollar payment now even with automatic approved payments.
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by Brightgem(f): 11:11pm On Sep 27, 2016|
Bigajeff:This was me too, it was so confusing. Ur bank saying this, Facebook saying that, and paypal telling stories. Finally sorted it and went back to old dollar/paypal way. this should have made FP true true. @op can u give some pointers with using fb ads especially to drive traffic.
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by smoothvee(m): 9:54am On Sep 28, 2016|
Op, at 25 dollars ...for a month ads service.. should be around one hundred and something thousand.. do you cover it by the end of one month bro?
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by oskaaay(m): 7:42am On Sep 29, 2016|
Many people argued that the Naira account stuff is not working off which they are not far from the truth but am here to tell you that its not true. How did I know? Because have been using the Naira dominated account for months now, paid and readvertise on it several times. As a matter of fact am oweing Facebook around N11,000 which will be paid within few days now so I can resume my ads again.
As a professional Web and Digital Marketing Consultant at Foskaay Enterprises Group, I have tested and tried a lot of medium of payment including GTbank Mastercard but was declined then comes in a solution have tested and still using till now which is working perfectly well http://telecomsadvocate.foskaaygroup.com/advertise-facebook-pay-naira-pay-facebook-ads-naira/
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by noetic5: 7:57am On Oct 03, 2016|
Yes, naira card
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by Johnrake69: 8:27am On Oct 08, 2016|
Brother please let me have your number so I call you to put me through. Being battling with the whole thing for the past 24hrs.
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by Johnrake69: 8:32am On Oct 08, 2016|
Brother please I really need help with the facebook advert payment. Spent the whole day in the back yesterday without any solution. They have no idea how to resolve if. Please.
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by noetic5: 12:14pm On Oct 08, 2016|
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by Bigajeff(m): 12:34pm On Oct 08, 2016|
noetic5:follow this steps and don't miss any
1. login to your paypal
2. click at the top that you want to send money for goods and services after that it will ask you the email you are sending
3. input any email that is not of this PayPal you are using or you use your second email, click next
4. set the amount you want to send. just type 1
5. that same page set the currency to USD and click next
6. Now you must see the page that ask you that you are sending 1USD to the email you input above
at this stage don't click next so that you will not pay that email recipient. just logout your PayPal which means you have set your PayPal to pay in USDollar and not naira so that your bank will determine the exchange rate from your naira account to help you pay through PayPal.
Just go ahead and pay your Facebook add or whatever payment.
This works for those that connect their master card with paypal
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by selflessguru: 1:58pm On Oct 08, 2016|
.. others okay kontinu ! am coming back to drop more comment ..
anyway google adsense account is for sale if u wan buy , call or bang me on whatsapp asap on
*Keep it up biko*
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by Johnrake69: 2:07pm On Oct 08, 2016|
|Re: Facebook Ads: Why Nigerians Should Pay In Dollars And Not Naira (screenshots) by Johnrake69: 2:19pm On Oct 08, 2016|
Thank you Boss. I was able to create another ad account this time, I chose dollar as the currency for the transaction and was able to link it through the business manager account where I already have my Access bank visa card stored.
The ad is currently running and I was told I will be billed at a later date.
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